Unless you’ve been living under a rock, you’ve probably heard all about NFTs! Chances are, you’ve probably heard even more about music NFTs and how creators are offering all kinds of interesting and unique items for sale.
Maybe you’ve also heard that it’s basically a frenzy right now, with people buying them up and selling them off. It’s an exciting new market, with plenty of opportunities for fans, collectors, and even investors to own a piece of music history.
If you’re interested in getting in on the action, you’re probably asking yourself where you can buy music NFTs. In this post, we’ll go over everything you need to know, including a quick rundown of NFTs, where to buy them, and even how to purchase them.
A Quick Summary of Music NFTs
Before we dive into where you can buy music NFTs, let’s just go over what they are first!
First and foremost, NFT stands for non-fungible token. To put it in simplest terms, this is a digital file that’s been authenticated and certified as 100% unique and that can’t be copied, substituted, or divided up. Essentially, it’s an “original” file that functions as a kind of digital asset (also called a crypto asset).
This NFT has identifying data that certifies its authenticity and ownership that’s owned on the blockchain. If we’re looking for the simplest definition for “blockchain”, it’s simply a record of transactions – like a digital ledger – that’s stored on a network of computer systems that are all interconnected.
What does all this mean? For starters, it means that NFTs have more value than other digital files for two fundamental reasons: they’re unique and scarce. It’s a pretty universal rule in economics: if there’s only one of something valuable, then it becomes even more valuable.
Additionally, music NFTs are a type of NFT that deal with music and music-related topics. There are different types of music NFTs, including songs, full albums, remixes, artwork, tickets, digital merchandise, samples, and instrumentals. Plus, some artists are getting really creative with the NFTs that they’re making and even offer special, one-of-a-kind experiences, including the chance to collaborate with or meet the artist.
Finally, it’s important to note that just because you buy a music NFT, that doesn’t mean you automatically own the copyright. This is only the case if the musician includes the copyright or some form of licensing with the music NFT that you buy.
Who Buys Music NFTs?
Since we know how popular and profitable they can be, the question then becomes: Who buys music NFTs? What kind of consumer is interested in these unique, scarce, and exclusive products?
We can break them down into three basic types:
- Fans. These are people who are big fans of the artist in question and are looking to own a piece of music history or earn “bragging rights”.
- Investors. These are people who see the potential for profit in buying and selling music NFTs, so they treat them like investments and then sell them once they’ve appreciated in value.
- Collectors. These are kind of like a combination of the other two – they’re usually music enthusiasts who like to combine music NFTs into a wider collection, usually increasing their value in the process.
- Other musicians. This is usually the case when the artist in question sells music NFTs that are samples or beats that another artist can use to create their own music.
These buyers may have different individual reasons for buying music NFTs, but the simple fact of the matter is that these digital assets give you the chance to own a one-of-a-kind piece of music history. In the computer age, where every file can be duplicated over and over, NFTs create a unique item that – because of its rarity – can become extremely valuable.
Where Do I Buy Music NFTs?
So you’ve decided to buy some music NFTs – that’s great! Even if you don’t want to get too serious about the whole enterprise, it’s still really fun to see what’s being offered. For a lot of people, it’s a bit like trading baseball cards or other collectibles – half the fun is the search for the valuable collectible in question.
It is hypothetically possible to buy music NFTs directly from the musical artist, usually on their website. However, this is fairly rare and is not usually the norm. Instead, in most cases, people buy them from a music NFT marketplace. The name is pretty self-explanatory: it’s simply an online marketplace where you can buy music NFTs.
If you’re looking for a music NFT marketplace that has everything you need, The Husl is a great place to start. We offer a wide selection of different music NFTs, all hosted on the ultra-secure Ethereum (ETH) blockchain. Our marketplace is also intuitive and easy-to-use, making it that much funner to hunt down one-of-a-kind collectibles!
How Do I Buy Music NFTs From A Marketplace?
If you’re looking to buy music NFTs from a marketplace, make sure you follow these pretty simple steps:
Choose a marketplace like The Husl
In order to get started, you’ll have to choose a music NFT marketplace that offers the kinds of products that you’re interested in buying. Don’t forget that music NFTs can be more than just albums and songs – it can include everything from artwork to one-of-a-kind experiences with your favorite musicians.
Plus, you should also make sure that the marketplace in question allows you to both buy and sell music NFTs. If you’re a creator yourself, then you can also create your own NFTs and then sell them on this same marketplace. On the other hand, if you’re looking to flip the NFTs, then you can sell them on this same marketplace for a tidy profit.
If you’re interested, click here to learn more about The Husl.
Download & install a crypto wallet
All of the transactions that you’ll be doing on the marketplace will be via your crypto wallet. This is basically a device or program that allows you to transfer and store cryptocurrency, which is the currency you’ll be using to buy (and sell) music NFTs.
Additionally, when you buy the music NFT from the marketplace, it will actually be sent to your crypto wallet to ensure the highest level of security. These are valuable files, so they shouldn’t be sent over public or unsecured lines of communication.
There are two key parts to a crypto wallet:
- Public key. This is essentially “the address” to your wallet. All transactions, including cryptocurrency and the actual music NFTs, will be sent to your public key.
- Private key. This is the secure login to your crypto wallet. Anyone who has access to the private key effectively has access to both your cryptocurrency balance and any music NFTs that you have in your crypto wallet.
Most music NFTs are stored on the Ethereum (ETH) blockchain, so you’ll need a crypto wallet that lets you deal with Ethereum (ETH). A great choice is MetaMask, which is both very secure and user-friendly.
Exchange your cash into cryptocurrency
Before you can start using your crypto wallet and buying music NFTs, you’re going to have to add money to it. This is also known as funding the wallet.
This is pretty simple and is functionally no different than exchanging conventional currency from one form to another (like dollars into pounds or euros into yen). If you want to load your wallet with Ethereum (ETH), then you should use any respectable fiat-to-crypto platform that supports crypto purchases.
Some of the best known include:
However, it’s important to remember that crypto – including Ethereum (ETH) – is like any other currency: its prices relative to dollars will fluctuate based on market forces. That means that sometimes the dollar will be weaker or stronger versus the crypto, so you should keep an eye on currency prices using a crypto tracker. The two most popular are CoinTracker and Live Coin Watch.
Create an account with the marketplace
This is pretty simple: just create an account with the marketplace you choose. But you have to take the importance of good security very seriously.
People frequently think that the blockchain will be less secure than conventional digital networks. The exact opposite is true: it’s actually more secure. But this security will only work if you protect your sensitive information. Plus, as part of the signup process, you’ll be connecting your crypto wallet to the marketplace in question.
Much like the private key for your crypto wallet, you should really take the time to choose a password that’s as strong as possible. Otherwise, people will be able to access your account and make unauthorized transactions with your crypto wallet. This can include selling potentially priceless music NFTs without your consent.
Browse and purchase the music NFT
This is the fun part! Now you can simply browse the marketplace and buy whatever music NFTs you want! Once you make the purchase, then the NFT will be sent to your crypto wallet where it will be stored securely for your benefit.
If you decide that you want to try and flip that NFT for a profit, then you can simply list it on the same marketplace. Since your crypto wallet is already connected to your account, it becomes super easy to buy and sell NFTs.
Find All The Best Music NFTs On The Husl
In an exciting and fun new market, The Husl is the perfect place to buy (and sell) music NFTs. We use the Ethereum (ETH) blockchain to reorganize the entire music business in order to give the power back to the two most important players: the creators and the fans. In a system that’s become increasingly broken in recent years, The Husl is the revolutionary solution!
For a lot of users, the best part of the music NFT game is actually hunting down these rare and unique offerings. A marketplace like The Husl offers a wide variety of music NFTs beyond just songs and albums. We value the contributions of our creators, many of whom have come up with some really unique NFTs that they’re bringing to the table.
Come check us out today if you’re interested in buying music NFTs!